Pan Pacific Retail Properties Announces Quarterly Dividend of $0.64 Per Share
29 Août 2006 - 1:00PM
Business Wire
Pan Pacific Retail Properties, Inc. (NYSE:PNP) today reported its
Board of Directors declared the regular quarterly dividend of $0.64
per share, payable on the earlier of September 29, 2006, and the
close of the merger transaction between Pan Pacific Retail
Properties, Inc. and Kimco Realty Corporation, to stockholders of
record on September 19, 2006. ABOUT PAN PACIFIC RETAIL PROPERTIES
Pan Pacific Retail Properties, Inc. is an equity real estate
investment trust (REIT) traded on the New York Stock Exchange under
the symbol PNP. The Company is the largest neighborhood shopping
center REIT focused exclusively on the West Coast. Pan Pacific's
portfolio currently totals 138 properties, encompassing
approximately 22.6 million square feet of retail space. The
portfolio is principally diversified across five distinct regions
in the Western United States: Northern California, Southern
California, Washington, Oregon and Nevada. Pan Pacific specializes
in the acquisition, ownership and management of community and
neighborhood shopping centers for everyday essentials. The
Company's strategy is aimed at generating long-term stable cash
flow through maintaining a diverse portfolio and tenant base,
balanced with consistent growth through its acquisition and
property management programs. Pan Pacific is headquartered in Vista
(San Diego), California, and has regional offices located in
Sacramento, California; Kent, Washington; Portland, Oregon; and Las
Vegas, Nevada. Additional information on Pan Pacific is available
on the Company's website at http://www.pprp.com. Forward-Looking
Statements This press release contains "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. All statements
other than statements of historical facts included in this press
release are forward-looking statements. All forward-looking
statements speak only as of the date of this press release. Such
forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause the actual results,
performance, achievements or transactions of Kimco, Pan Pacific and
their affiliates or industry results or the benefits of the
proposed merger to be materially different from any future results,
performance, achievements or transactions expressed or implied by
such forward-looking statements. Such risks, uncertainties and
other factors relate to, among others, approval of the transaction
by the shareholders of Pan Pacific, the satisfaction of closing
conditions to the transaction, difficulties encountered in
integrating the companies, the marketing and sale of non-core
assets, the addition of properties to Kimco's strategic
co-investment program, and the effects of general and local
economic and real estate conditions. Additional information or
factors which could impact the companies and the forward-looking
statements contained herein are included in each company's filings
with the Securities and Exchange Commission. The companies assume
no obligation to update or supplement forward-looking statements
that become untrue because of subsequent events. Additional
Information and Where to Find It This press release does not
constitute an offer of any securities for sale. In connection with
the proposed transaction, Kimco and Pan Pacific have filed a
definitive proxy statement/prospectus dated August 23, 2006 with
the Securities and Exchange Commission as part of a registration
statement regarding the proposed merger. Investors and security
holders are urged to read the proxy statement/prospectus because it
contains important information about Kimco and Pan Pacific and the
proposed merger. Investors and security holders may obtain a free
copy of the definitive proxy statement/prospectus and other
documents filed by Kimco and Pan Pacific with the SEC at the SEC's
website at www.sec.gov. The definitive proxy statement/prospectus
and other relevant documents may also be obtained free of charge
from Kimco or Pan Pacific by directing such request to: Kimco
Realty Corporation, 3333 New Hyde Park Road, New Hyde Park, New
York 11042-0020 Attention: Investor Relations or Pan Pacific Retail
Properties, Inc., 1631-B South Melrose Drive, Vista, California
92081 Attention: Investor Relations. Investors and security holders
are urged to read the proxy statement, prospectus and other
relevant material before making any voting or investment decisions
with respect to the merger. Kimco and Pan Pacific and their
respective directors and executive officers may be deemed to be
participants in the solicitation of proxies from the shareholders
of Pan Pacific in connection with the merger. Information about
Kimco and its directors and executive officers, and their ownership
of Kimco securities, is set forth in the proxy statement for the
2006 Annual Meeting of Stockholders of Kimco, which was filed with
the SEC on April 12, 2006. Information about Pan Pacific and its
directors and executive officers, and their ownership of Pan
Pacific securities, is set forth in the proxy statement for the
2006 Annual Meeting of Stockholders of Pan Pacific, which was filed
with the SEC on March 24, 2006. Additional information regarding
the interests of those persons may be obtained by reading the proxy
statement/prospectus.
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